Apple is Going to Launch iPhone App Store on Thursday Morning

Apple’s highly anticipated App Store for the iPhone and iPod Touch is likely to launch tomorrow, according to Forbes citing three sources. The launch would take place at noon Eastern time, which is 9am out here on the west coast

Opening the App Store the day before the iPhone 3G release would be a welcome surprise for first generation iPhone owners who shelled out as much as $599 for their devices last year only to have a new one launch a year later.

Apple has a lot riding on the App Store because it is no longer relying on a cut of data revenues from each device the carriers bring on network. And the retail price has been cut in half to boot. The financial performance and popularity of the new content distribution model will determine whether Apple has more to gain by allowing subsidies and shunning the carriers when it comes to content distribution. Indeed, the company stands to make much more through applications sales if the store performs on par with expectations.

Apple will take a 30% cut of all sales made via its App Store, but developers will be able to sell their software for any price they see fit–or give it away for free. The App Store is the centerpiece of Apple’s (nasdaq: AAPL - news - people ) effort to turn its iPhone media player-smart phone hybrid into an all-purpose computing platform.


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